(1) Any person, firm, company or institution which is paid in foreign exchange, Nepal …………. When any goods are imported by opening a letter of credit or in any other manner, such goods must be imported within the time specified by the bank and the documents specified by the bank must be submitted to the bank. (2) The arrangement regarding the type and procedure of foreign exchange to pay for the payment shall be as prescribed by the bank by publishing and broadcasting public information.
(3) Unless the prior approval of the bank is obtained, the goods declared by the importer in the receipt must be imported according to the price and quantity mentioned in the receipt. But in the case of amendment in the certificate, there will be no hindrance to import the goods according to the revised price and quantity.
(4) When an importer opens a power of attorney for remittance in a commercial bank, if any other person, firm, company or institution is directly or indirectly involved in the related activities, if there is embezzlement or misappropriation of foreign currency in the said transaction, regardless of what is written in the prevailing law, the foreigner Money embezzlement or any person, firm, company or organization directly or indirectly involved in money laundering or embezzlement will be punished according to this Act.< br> (5) Regardless of what is written elsewhere in this section, the procedure for the transfer of knowledge and information technology and payment thereof shall be as prescribed by the Bank by publishing and broadcasting public information.
(6) The importer must have a valid visa. It should not be done and any work related to it should not be done.